Buzz Stocks: Partnerre, Nokia, and OraSure Tech

Today's stocks to watch in the news include Partnerre Ltd (PRE), Nokia Corporation (ADR) (NOK), and OraSure Technologies, Inc. (OSUR)

Aug 3, 2015 at 10:26 AM
facebook X logo linkedin

U.S. stocks are mostly lower as traders continue to monitor the rough start seen by overseas markets. In company news, today's stocks to watch include insurance concern Partnerre Ltd (NYSE:PRE), telecom firm Nokia Corporation (ADR) (NYSE:NOK), and biotech OraSure Technologies, Inc. (NASDAQ:OSUR).

  • PRE touched a new all-time high of $138.95 this morning, and was last seen 2.2% higher at $138.88, after investment group Exor announced that it signed a deal to buy Partnerre Ltd for $6.9 billion. The agreement ends a prolonged battle for PRE with Axis Capital Holdings Limited (NYSE:AXS). PRE has been a solid performer, riding higher along support from its 10-month moving average. This trendline has provided rather solid support the beginning of 2012. While the stock prospers, option players and analysts maintain a skeptical air. PRE's Schaeffer's put/call open interest ratio (SOIR) of 1.48 indicate short-term puts outnumber calls in the options pits. As for analysts, 11 of the 12 tracking PRE rate it a "hold." 
  • NOK is down 0.7% at $7, bringing its year-to-date loss to nearly 11%. A group of German carmakers is purchasing Nokia Corporation (ADR)'s Here digital mapping business for 2.8 billion euros (roughly $3.1 billion). The consortium of carmakers includes Audi, BMW, and Daimler, and it hopes to develop technology that will help create self-driving cars. NOK continues to bounce sideways between the $6.40 and the $7.40 regions. Against this backdrop, option buyers have picked up NOK puts over calls at a faster-than-usual clip during the past 10 weeks. The equity's 50-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 0.57 -- just 3 percentage points from an annual peak.
  • Our final stock is OSUR. OraSure Technologies, Ltd. is 2.4% higher at $5.06, following news that it received U.S. Food and Drug Administration (FDA) Emergency Use Authorization for its OraQuick® Ebola Rapid Antigen TestShares of OSUR have dropped more than 50% in 2015, due to pressure from their 10- and 20-week moving averages.  As such, near-term option players are more put-heavy than usual; the stock's SOIR of 0.47 registers in the 98th percentile of its annual range.

Want an even earlier advantage on the biggest news before the bell? Sign up now to get Schaeffer's Opening View delivered straight to your inbox.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI